Archives: August 2021

The Residential Property Price Index recorded an increase of 0.4% for the fifth consecutive quarter in the third quarter of 2017, on a quarterly basis, while the Index increased by 1.4% yoy. According to data released by the Central Bank of Cyprus (CBC), the outlook for the real estate sector is auspicious. Building permits and demand…

Cyprus welcomed 3.976 million tourists in 2019, recording a 1% increase over the previous year and setting a new record, according to the latest figures published by the Statistical Service. Citing the results of the Passengers Survey, CyStat said Cyprus tourist arrivals had broken a new record in December, and for the year. Total arrivals…

In statements in Larnaca, Minister of Transport Yiannis Karousos called the day “historic” for the city and region of Larnaca, since “We have agreed on this development with the investor, it is a one billion dollar investment with multiple benefits for both Larnaca and the local economy. This is a development that will include the marina, the commercial…

Greece, Cyprus, and Israel have signed an agreement to construct 1,900-kilometer undersea pipeline to carry natural gas from the eastern Mediterranean to Europe and potentially help the continent reduce its dependency on Russia for energy supplies. Greek Prime Minister Kyriakos Mitsotakis, Israeli Prime Minister Benjamin Netanyahu, and Cypriot President Nikos Anastasiades attended the January 2…

The contract to build the long-anticipated Paphos marina has been awarded to Pafilia by the ‘new’ Marina Management Committee, which was appointed in March to examine documents submitted as part of the marina tender process. (Copyright © Cyprus Property News) AFTER nearly three decades of bureaucratic delays and legal wrangles, the contract to build the…

Year 2020 is going to be a landmark for tourism in Cyprus, as the multinational consortium consisting of the companies “Melco International Development Ltd”, “Seminole HR Holdings LLC-Hard Rock” and “CNS Group-Cyprus Phassouri (Zakaki) Limited” is going to operate the first legitimate integrated casino resort placed in a 34,000 m² area next to The Mall…